1.  Overview the trade of SINGAPORE in goods current year until 202303

According to Dalian Infobank, in 202303, SINGAPORE's exports and imports of goods amounted to 82633.4730 million, and were down 7.37% comparing with the same period of last year. Among these, exports were down 5.23% at 44035.1930 million, and imports were down 9.70% at 38598.2800 million. And the corresponding trade surplus was 5436.9130 million and up 46.19%.

During the current year until 202303, SINGAPORE's total exports and imports of goods were 223456.9510 million and were down 6.43% comparing to the same period of last year. Among these, exports were 119207.9520 million and down 5.14%; imports were 104248.9990 million and down 7.87%. The total trade surplus was 14958.9530 million and up 19.58%.

If considering by country (region), CHINA, UNITED STATES, MALAYSIA, TAIWAN CN, INDONESIA were SINGAPORE's top five trading partners. During the current year until 202303, SINGAPORE's imports and exports to five countries/territories were 30149.0690 million, 24003.6480 million, 23858.6960 million, 15783.0410 million, 13173.8910 million. These values correspond to 13.49%, 10.74%, 10.68%, 7.06%, 5.90% of SINGAPORE's imports and exports, and, respectively, were down 0.11%, up 5.74%, down 8.49%, down 27.30%, up 3.72% comparing to the same period of last year.

Current year until 202303, SINGAPORE and the top five trade partners CHINA, UNITED STATES, MALAYSIA, HONG KONG CN, INDONESIA are the top five countries/territories that SINGAPORE exports to in terms of the total export amount. During the current year until 202303, SINGAPORE's exports to these five countries/territories were 15437.9200 million, 11775.8020 million, 11666.3650 million, 10870.3160 million, 9096.9160 million. These values correspond to 12.95%, 9.88%, 9.79%, 9.12%, 7.63% of SINGAPORE's exports and, respectively, were down 9.23%, up 0.56%, down 0.60%, down 25.88%, up 8.62% comparing with the same period of last year.

Current year until 202303, SINGAPORE's exports to top five countries/territories CHINA, UNITED STATES, MALAYSIA, TAIWAN CN, SOUTH KOREA are the top five countries/territories that SINGAPORE imports from in terms of the total export amount. During the current year until 202303, SINGAPORE's imports from these five countries/territories were 14711.1490 million, 12227.8460 million, 12192.3310 million, 10740.2660 million, 6258.2240 million. These values correspond to 14.11%, 11.73%, 11.70%, 10.30%, 6.00% of SINGAPORE's total imports and, respectively, were up 11.66%, up 11.27%, down 14.96%, down 30.55%, down 18.69% comparing with the same period of last year.

During the current year until 202303, the trade surplus of SINGAPORE was mainly from HONG KONG CN, INDONESIA, VIETNAM, AUSTRALIA, INDIA at 10254.0750 million, 5019.9410 million, 3165.7540 million, 1987.2610 million, 1744.1550 million, and down 25.95%, up 24.00%, up 2.88%, down 11.05%, up 22.62%. And the trade deficits were mainly from TAIWAN CN, FRANCE, SAUDI ARABIA, UNITED KINGDOM, SOUTH KOREA at 5697.4910 million, 2781.1540 million, 1610.2360 million, 1268.9580 million, 1233.7260 million, and down 38.21%, up 56.35%, down 35.90%, up 32.03%, down 59.85%.

Current year until 202303, SINGAPORE's trade surplus or deficit with top five countries/territories During the current year until 202303,  commodities with hs2 codes, 85, 27, 84, 71, 90, were SINGAPORE's top five traded commodities. They correspond to the import and export values of 70451.4410 million, 37423.8540 million, 33101.8020 million, 11550.4690 million, 8867.7750 million, which were down 16.80%, down 0.79%, down 0.25%, down 1.76%, down 4.80% comparing with the same period of last year and account for 31.53%, 16.75%, 14.81%, 5.17%, 3.97% of SINGAPORE's total imports and exports.

During the current year until 202303, 85, 84, 27, 99, 90 were SINGAPORE's top five traded commodities, with total import and export values of 38949.1570 million, 17302.7830 million, 15316.3810 million, 7926.6160 million, 5648.1140 million. These values correspond to 32.67%, 14.51%, 12.85%, 6.65%, 4.74% of SINGAPORE's total exports and, respectively, were down 15.36%, down 2.46%, up 8.52%, up 15.31%, up 3.97% comparing to the same period of last year.

During the current year until 202303, 85, 27, 84, 71, 90 were SINGAPORE's top five traded commodities, with total import values of 31502.2840 million, 22107.4730 million, 15799.0190 million, 5950.7670 million, 3219.6610 million. These values correspond to 30.22%, 21.21%, 15.16%, 5.71%, 3.09% of SINGAPORE's total exports and, respectively, were down 18.52%, down 6.35%, up 2.28%, down 7.63%, down 17.07% comparing to the same period of last year.

2. Current year until 202303, SINGAPORE binational trade profile

According to Dalian Infobank, during the current year until 202303, SINGAPORE-China binational exports and imports of goods amounted to 30149.0690 million and were down 0.11% comparing with the same period of last year. Among these, exports from SINGAPORE to China were 15437.9200 million and down 9.23%, imports from China to SINGAPORE were 14711.1490 million and up 11.66%. The total binational trade surplus was 726.7710 million and down 81.03%.

During the urrent year until 202303, commodities with hs2 code, 85, 84, 27, 71, 29, were binational trade's top five traded commodities. They correspond to import and export values of 10662.0880 million, 4516.5720 million, 3178.2760 million, 2241.1240 million, 1445.4290 million and makes up 35.36%, 14.98%, 10.54%, 7.43%, 4.79% of the total binational imports and exports. These values were also down 17.37%, down 20.88%, up 78.40%, up 615.86%, up 21.37% comparing to the same period last year.

During the current year until 202303, 85, 71, 84, 33, 39 were the top five traded commodities exported to China from SINGAPORE, with export values of 5229.2830 million, 2158.1680 million, 1979.5420 million, 1051.9840 million, 981.1860 million. These values account for 33.87%, 13.98%, 12.82%, 6.81%, 6.36% of SINGAPORE's total exports and were down 28.74%, up 799.60%, down 29.87%, up 23.05%, down 36.54% comparing to the same period of last year.

During the current year until 202303, 85, 84, 27, 29, 90 were SINGAPORE's top five traded commodities importing from China , with import values of 5432.8050 million, 2537.0300 million, 2299.4580 million, 1153.0830 million, 329.0540 million. These values account for 36.93%, 17.25%, 15.63%, 7.84%, 2.24% of SINGAPORE's total imports and were down 2.39%, down 12.10%, up 117.50%, up 98.00%, down 9.00% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: IE Singapore